OECD report focuses on enabling policies to support the Circular Carbon Economy approach, as part of a rapid transition towards net-zero GHG emissions. Drawing on OECD’s interdisciplinary expertise, the report identifies enabling policies common across the 4Rs of the CCE, and then focuses on two important CCE enablers: overcoming barriers to financing for CCUS, and accelerating innovation.
Financing CCUS can be challenging, in part because projects are capital-intensive with high perceived risks, and revenues are policy-dependent. In addition to incentives to support revenues, governments can play several roles to help reduce financing costs, including through construction guarantees and public-private partnerships. Accelerated innovation will be essential for the transition to net-zero emissions. However, even before COVID-19, there were signs of a slow-down in low-carbon innovation. Governments can play several roles to both “push” and “pull” new technological solutions through the innovation chain, including to improve cost effectiveness of the “remove” component of CCE.
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